Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 31 CHAIRMAN’S STATEMENT OUTLOOK Looking ahead to 2024, UEM Edgenta is cautiously optimistic, guided by Bank Negara Malaysia’s forecast of 4-5% Gross Domestic Product (“GDP”) growth which is expected to be fuelled by strong domestic consumption, a stable labour market and the hopeful resurgence of global trade. This economic backdrop presents a supportive environment for our ongoing endeavours and future plans. Our commitment to providing innovative, technology-driven sustainability solutions remains central to our strategy. We aim to continue responding to the needs of our clients with precision and foresight, ensuring our services are not just relevant but ahead of the curve. The projected economic upturn offers us a valuable opportunity to expand into emerging markets and tailor our offerings to better serve our customers’ evolving needs. In navigating the year ahead, we will maintain a focus on charting the path to sustainable profitability involving mitigating structural challenges in the short-term and building transformational growth in the medium to long-term. Our focus remains on cost optimisation across all levels including corporate and business units, cost of sales and operational expenditure to manage costs effectively and mitigate the challenging market conditions while maximising productivity and profitability. We have initiated strategic pivots to establish a strong starting point by strengthening our digital assets, building ESG capabilities and entering new high growth markets such as the KSA and the UAE. These key areas are essential for our continued growth and for realising the ambitions set forth in our EoTF2025 strategy. By fostering the growth of our team, advancing our technological capabilities and ensuring our business model is adaptable, we are preparing to meet both the challenges and opportunities that 2024 may bring. With our global presence as a key asset, we are ready to tackle the challenges ahead, seize new opportunities and create sustainable value for our stakeholders and shareholders. Our goal is to be a leader in providing technological and sustainable solutions, contributing to our company’s growth and the betterment of society. ACKNOWLEDGEMENTS As we navigate through the everevolving landscape of our industry, it is with a sense of profound gratitude that I extend our collective thanks to all our key stakeholders for your unwavering support and commitment to our organisation. A special note of appreciation goes out to the management team and our Edgenta Stars for their dedication and unrelenting efforts in delivering value time and again. It is also with a warm and respectful acknowledgment that we bid farewell to some of our esteemed board members. We extend our deepest gratitude to Dato’ Noorazman Abdul Aziz for his five years of exemplary service upon his retirement. Additionally, we recognise Shirley Goh, who has resigned after two years of dedicated service. In light of these departures, it is with great pleasure that I welcome our new directors, Nurul Iman Mohd Zaman, Dato’ Dr. Omar Abd Hamid and Simon Kua Choo Kai. Each brings a wealth of experience and insight that will undoubtedly propel our company forward. As we move ahead, I am confident that the collective efforts of the Board, management and employees will steer us towards new horizons of success and innovation, overcome challenges and ultimately set us down a path of longterm and sustainable growth. TAN SRI DR. AZMIL KHALID Independent Non-Executive Chairman
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